The income tax in Whiteville, Tennessee is a tax imposed on all money earned and received during the year. Under federal law, income through any source may be taxed. The federal government has had explicit constitutional authority to impose an income tax since 1916, with the passage of the 16th Amendment. This came after the Supreme Court had consistently found a federal income tax to be unconstitutional. States, including Tennessee, have always been allowed to impose whatever type of income tax they liked.
While the federal government levies an income tax against every person and corporation in the U.S., the income taxes imposed by the states vary widely. Some states have fairly high income taxes, and a few have none at all. You should consult with a Whiteville, Tennessee tax Lawyer if you don't know what type of tax system your state has.
Income Tax Deductions in Whiteville, Tennessee
A tax deduction is a reduction in your taxable income. It results in less of one's income being taxable, which causes a reduced tax liability.
This should not be confused with a tax credit, which is simply a reduction in somebody's tax bill. A tax credit will typically reduce your tax liability far more than a tax reduction of the same amount.
Many expenses in Whiteville are tax-deductible, such as interest paid on mortgages, charitable contributions, the cost of tax advice, and union dues, among others.
How Can A Whiteville, Tennessee Tax Attorney Help?
Income tax laws are notoriously complex. If you reside in Whiteville, Tennessee and run into any type of tax problems, including an audit or wage garnishment, a local tax Lawyer would almost certainly be able to help.